Transocean Q4 net income $7M; full-year net loss $512M; backlog $8.3B

Transocean Ltd.

2024-FY EPS reported -$0.76 revenue$3,524,000,000

Q4 contract drilling revenues $952M, up $4M sequentially; revenue efficiency 93.5%.
Q4 net income $7M ($0.01 basic), diluted loss $0.11; adjusted net income $27M.
Full-year 2024 net loss $512M ($0.76/diluted share), including $755M asset impairment loss.
Adjusted full-year net loss $54M ($0.26/diluted); backlog $8.3B as of Feb 2025.
CEO cites first two 20K subsea completions and $2.4B in new backlog secured in 2024.

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